LOCKPORT, IL-ML Realty Partners LLC, based in Itasca, IL, is planning a 228-acre industrial park at the 143rd Street interchange for Interstate 355. The estimated cost for Heritage Crossing Corporate Center, when completed, is approximately $200 million, says Mike Luecht, president and CEO of ML Realty Partners. The business park is expected to have a total of 2.6 million sf of industrial space when fully built-out.

The park is bounded by I-355, 143rd Street, 151st Street and Lemont Road. Heritage is expected to have a total of 12 buildings ranging in size from 65,000 sf to 485,000 sf. Construction is expected to begin shortly on two of the buildings, both of which are being constructed on a speculative basis, Luecht says. “Even though there is an apparent reduction in industrial demand, the good news is in this cycle that there was not too much supply in this submarket,” he says.

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